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News Main Page Last Updated: Jan 25, 2008 - 9:55: PM

Our system was upgraded on Jan25/26 2008. For the current Main News Page, click here.
News : International
Markets News Afternoon: Markets fall in Europe and the US
Markets news on stocks, currencies and oil.
Jan 25, 2008 - 5:49: PM

News : Irish Jacob's biscuit factory to close in Tallaght, Dublin with loss of 220 jobs; Venerable Irish brand dates from 1881
The Jacob Fruitfield Food Group has announced a restructuring of its manufacturing arrangements which will lead to the cessation of production at its biscuit factory in Belgard Road, Tallaght by early 2009. Regrettably, 220 manufacturing jobs will be lost in Tallaght. When the planned restructuring and investment programme is completed, it is expected that Jacob Fruitfield Food Group will directly employ 120 people at its various manufacturing sites and head office in Ireland.

Jan 25, 2008 - 4:38: PM

News : International World Economic Forum 2008: Trichet and Weber resist pressure on ECB rate cuts; Outlook for the global economy is still ``quite good''
European Central Bank Jean-Claude Trichet spoke in Davos, Switzerland yesterday on a panel focusing on the current financial instability and he again made clear that the ECB would not give in to the pressure for interest rate cuts. German Bundesbank President and Governing Council member Axel Weber said that investors' wagers that the ECB will cut interest rates later this year may be ``wishful thinking.''
Jan 25, 2008 - 7:15: AM

News : International Switzerland tops 2008 Environmental Scorecard at World Economic Forum followed by Sweden, Norway, Finland, and Costa Rica; Ireland gets 34th ranking among 149 countries
Switzerland tops the global list of countries ranked by environmental performance according to the 2008 Environmental Performance Index (EPI) produced by a team of environmental experts at Yale University and Columbia University.
Jan 25, 2008 - 6:08: AM

News : Irish Irish new cars licensed in December 2007 fell 13.6%; Increase of 4.4% in 2007
The CSO reported today that there were 1,304 new private cars licensed in Ireland, in December 2007 compared with 1,509 in December, 2006, a decrease of 13.6%. In the year 2007, the year of the SSIA saving windfalls, there were 180,872 new private cars licensed, an increase of 4.4% on 2006.
Jan 25, 2008 - 1:06: PM

News : International Merrill Lynch's Survey of Fund Managers January 2008: Institutional investors are acknowledging for the first time that the credit crunch could lead to a global recession
Nearly one in five respondents (19 percent) now believe that a global recession is either "likely" or "very likely" over the next 12 months according to the Merrill Lynch's Survey of Fund Managers for January 2008.
Jan 25, 2008 - 12:41: PM

News : Irish Bank of Ireland revises forecast period for 2 European Central Bank rate cuts to end year 2008
The Bank of Ireland's Dan McLaughlin has revised his forecast period of two European Central Bank (ECB) rate cuts from the first half of 2008 to the full year.  McLaughlin had previously forecast late last year that US Federal Reserve cuts would force the ECB to cut its benchmark rate by 0.5% to 3.5% by June 2008.
Jan 25, 2008 - 10:26: AM

News : International Markets News Friday: Stocks rally in Asia-Pacific and Europe; Commodities rise as US recession fears ease
Markets news on stocks, currencies and commodities.
Jan 25, 2008 - 9:40: AM

News : International Friday Newspaper Review - Irish Business News and International Stories
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Jan 25, 2008 - 8:37: AM

Analysis/Comment Dr. Peter Morici: US Stimulus Package, Interest Cuts should help but Crisis Continues
The $150 billion dollar US stimulus package announced by the Bush Administration and Democratic leaders, coupled with interest rate cuts implemented by the Federal Reserve, should help avert an economic debacle but the danger of recession continues. 
Jan 25, 2008 - 7:41: AM

News : International Microsoft announces record second quarter results and boosts tech sector with positive outlook
Microsoft on Thursday announced second quarter records for revenue, operating income and diluted earnings per share of $16.37 billion, $6.48 billion and $0.50, respectively. Compared to the year ago period, these figures represent growth of 30%, 87% and 92% for revenue, operating income and diluted earnings per share, respectively.
Jan 25, 2008 - 5:57: AM

News : International Market News Afternoon: Stocks rally strongly across Europe; Nokia shares surge almost 14%
Markets news on stocks, oil and commodities.
Jan 24, 2008 - 5:16: PM

News : Irish Foreign-owned firms were responsible for 90.2% of Irish exports in 2006 - including both merchandise goods and internationally traded services
Forfas the Irish State science and policy advisory agency today published the results of the Annual Business Survey of Economic Impact (ABSEI) for 2006. ABSEI covers the client base of State business promotion agencies - Enterprise Ireland, IDA Ireland, Shannon Development and Udaras na Gaeltachta.
Jan 24, 2008 - 3:40: PM

News : International US sales of second-hand single-family homes fell 13% in 2007 - the most since 1982 - and prices dropped for the first time in at least four decades
US second-hand home sales slipped 2.2 percent to a seasonally adjusted annual rate of 4.89 million units in December from a pace of 5.00 million in November, and are22.0 percent below the 6.27 million-unit level in December 2006.
Jan 24, 2008 - 3:30: PM

News : Irish Iona Technologies reports 2007 loss of $0.7 million
Iona Technologies, the Irish software company, today announced full year 2007 revenue of $77.7 million and fourth quarter 2007 revenue of $18.1 million.
Jan 24, 2008 - 2:36: PM

News : Irish Annual Irish Manufacturing Prices fell 2.1% in December 2007
The CSO reported today that monthly factory gate/wholesale prices prices increased by 0.5% in December 2007. This compares to a fall of 0.6% recorded for December 2006. As a result, the annual percentage change showed a decrease of 2.1% in December 2007, compared with a decrease of 3.1% in November 2007.
Jan 24, 2008 - 2:10: PM

News : Irish Pernod Ricard says Jameson Irish Whiskey is close to being a global Top 40 elite brand
Pernod Ricard, the French-owner of Irish Distillers, issued a report today for the first six months of its 2007/2008 financial year.
Jan 24, 2008 - 12:38: PM

News : Irish Irish merchandise exports fell 3% in November 2007: Imports jumped on new aircraft deliveries
The CSO reported today thatSeasonally adjusted imports increased by 10% to a high of EUR5,581m and exports decreased by 3% in November relative to October 2007. Relative to September 2007, imports increased by 2% in October, while exports increased by 8%.
Jan 24, 2008 - 11:29: AM

News : EU Economy Slight improvement in German Ifo Business Climate Index for Industry in January; Service Sector also improves
The Ifo Business Climate Index for Industry and Trade in Germany has risen slightly in January.
Jan 24, 2008 - 10:31: AM

News : International Markets News Thursday: Stocks rally across Europe despite news of massive banking fraud
Markets news on stocks, currencies and commodities.
Jan 24, 2008 - 10:05: AM

News : EU Economy France's Societe Generale bank announces €4.9 billion loss from trading fraud and additional subprime writedowns of €2.05 billion
France's Societe Generale bank on Thursday disclosed a fraud will result in a EUR4.9 billion loss and that it will write down an additional EUR2.05 billion in assets related to subprime exposure. The bank also announced that it plans to raise EUR5.5 billion in capital in "the following weeks."
Jan 24, 2008 - 8:58: AM

News : International China's economy grew 11.4% in 2007 - the best performance in 13 years; Fifth year in a row in which GDP expanded by more than 10%
China's gross domestic product (GDP) grew 11.4% year-on-year to 24.6619 trillion yuan ($3.43 trillion) in 2007, but at the announcement today in Beijing, there was a warning that the risks of spiraling inflation and economic overheating were also rising.
Jan 24, 2008 - 8:28: AM

News : International World Economic Forum 2008: Cool response to Fed rate cut in Davos
The Federal Reserve's emergency 0.75% cut in the federal funds rate to 0.75% got a tepid response from participants on Wednesday at the opening day of the World Economic Forum in Davos, Switzerland.
Jan 24, 2008 - 7:57: AM

News : Irish Ryanair raises baggage charge 50%; Determined to "encourage passengers to travel with carry on luggage only"
Ryanair on Wednesday announced that it is increasing checked-in baggage and airport check-in fees with immediate effect for all new bookings as part of "its continued drive to encourage passengers to travel without checked in bags and avail of Ryanair’s free of charge online check in."
Jan 24, 2008 - 7:07: AM

News : International Thursday Newspaper Review - Irish Business News and International Stories
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Jan 24, 2008 - 6:40: AM

News : Irish Martin announces €500 million support scheme to promote private sector spending on Research and Development - R&D - in Ireland
Minister for Enterprise, Trade and Employment, Micheál Martin, will today launch a EUR500 million support package to promote private sector spending on research and development (R&D).
Jan 24, 2008 - 3:24: AM

News : International Markets News Afternoon: Stocks again fall in US and Europe as prospect of more Fed rate cuts fails to tame the bears; Motorola's shares plunge almost 18%
Markets news on stocks, currencies and commodities.
Jan 23, 2008 - 4:53: PM

News : Irish Irish retail sales volume fell in November 2007
The CSO reported today that the volume of Irish retail sales in November fell because of slower motor sales.
Jan 23, 2008 - 4:13: PM

News : EU Economy Ireland among three of EU27 countries given 20% greenhouse gas emissions target cuts; Emission Trading System to be expanded
The European Commission has today agreed on a far-reaching package of proposals that it says will deliver the European Council's commitments to fight climate change and promote renewable energy.
Jan 23, 2008 - 2:19: PM

News : EU Economy Flash Eurozone PMI at 31-month low as growth of new orders drops to near-stagnation
The RBS/NTC Flash Eurozone Composite Output Index, based on around 85% of normal monthly survey replies, hit a 31-month low of 52.7 in January, dropping from 53.3 in December to signal an easing in the rate of growth for the third month running. The slowdown was driven by the service sector, where the rate of growth slipped to the weakest since August 2003. In manufacturing, output growth picked up slightly on the modest pace seen in December, but also continued to run well below rates seen last summer.
Jan 23, 2008 - 1:46: PM
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